Trattoria, Inc

question 109

Essay

Trattoria, Inc. engaged in the following investment transactions during 2013:
1.Purchased 200 shares of Tarbet Corporation stock for $11,500.
2.Received a $1.50 per share dividend on the Tarbet stock.
3.Sold 50 shares of the Tarbet stock for $55 per share.
At December 31, 2013, the market value of Tarbet's stock was $54.
A)Prepare journal entries to record this investment assuming management intends to hold this investment for less than a month.
B)Calculate the market value of the company's investment at December 31, 2013.
C)Prepare the necessary journal entry at December 31, 2013.
D)How should this investment be disclosed in the December 31, 2013 financial statements?

• A)Prepare journal entries to record this investment assuming management intends to hold this investment for less than a month.
• B)Calculate the market value of the company's investment at December 31, 2013.
• C)Prepare the necessary journal entry at December 31, 2013.
• D)How should this investment be disclosed in the December 31, 2013 financial statements?

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Definitions:

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